Prop bets, or proposition bets to give them their full title, are bets on in-game events. It is a popular wager, especially on American sports where NBA, MLB, NHL and NFL prop bets are hugely popular. However, these types of bets are not exclusive to American sports.
You can find similar prop wagers on many other sports, such as the first or last goalscorer bet in football, although they are not labelled prop bets in most non-American-based sports.
A proposition bet is called that because it is based on a proposition. For example, Player A will score a touchdown in this game. If the proposition bet proves correct, you win. If the proposition bet doesn’t happen, then you lose.
Let’s begin with a look at the four different types of popular prop bets you can find today.
What are the Different Types of Prop Bets Available with Bookmakers?
There are a number of different types of prop bet wager available with bookmakers. Some of the most commonly used include:
- Game Prop – A prop bet based on the outcome or events within the game itself. For example a bet on both teams scoring.
- Team Prop – This bet is based on a team performance metric. Such as betting on whether the chosen NBA team will score more than 20 points in the third quarter.
- Player Prop – This prop bet is based on an individual’s performance within the game. Such as backing a baseball player to score a home run, or an NFL player to score a touchdown.
- Novelty Prop – These prop bets may be based on elements of a game that are non-sporting, for example betting on which team will win the toss, or how long it will take for the national anthem to be sung. These prop bets are only usually available in major events, such as the Super Bowl, NBA finals or similar.
The vast majority of prop bets are for the Game prop, Team prop and Player prop markets.
How do Prop Bets Work and How Do I Place Them?
All prop wagers work on the same principle. A punter will place a bet on a proposition made by the bookmaker. Examples of these may be:
- Game Prop – in basketball betting, both NBA Teams to score 20+ points in the first quarter
- Team Prop – The Philadelphia Eagles will score two or more touchdowns in the First Half.
- Player Prop – NFL TE Travis Kelce (Kansas City Chiefs) to score the first touchdown in the game.
In each case, the sportsbook will offer odds on the available betting options for each prop bet. Simply click on the odds to add it to your bet slip, open the bet slip, enter your stake and click to place the bet.
If your proposition bet is a winner (for example, in the Game Prop above, if both teams do score 20+ points in the first quarter of the NBA game), then you will win the bet.
Which Sports Tend to Offer the Most Compelling Prop Bet Markets?
As we mentioned in the introduction, it is American Sports that tend to be the home for the most interesting and widest range of prop bets when sports betting.
Top sports for proposition bets include:
- NFL Regular Season, Post Season and Super Bowl games.
- NBA Regular Season, Post Season & NBA Finals
- NHL Regular Season, Playoffs & Stanley Cup Final
- MLB Regular Season, Playoffs & World Series
Are There any Strategies I can use to Make my Prop Bets More Successful?
On any game, the number of prop betting options available will be huge. As such, narrowing down the options to those most likely to earn you a return is always the key to more successful prop betting. There are a number of ways to achieve this.
- Research the game, teams and individuals taking part if you plan to place prop bets on them. For example, if you plan to back a player to score the First Touchdown in the game, check his stats to see how often he scores first for his team and how often the team scores first in a game.
- Always bet responsibly and with a cool and calm approach. Don’t chase prop bet losses by making immediate and likely rash other prop bets.
- Follow the game live. You can get a feel for the ebb and flow of a game and how momentum can shift, which allows you to make prop bets that are more suited to the game situation.
Pros And Cons of Prop Betting
As with all types of bets, there are a number of pros and cons when making prop bets. We have listed some of the positives and negatives you will find with prop betting opportunities.
Pros
- There is often a wide variety of prop bets available offering punters a great deal of choice and often they can bet on prop markets that match their interests.
- Prop bets are easy to understand. This makes them very easy for beginners to follow as there is usually a simple criteria that decides whether the bet is a winner or loser.
- Some Prop bets require little or no research. Some prop betting options can’t be researched, especially those not based on a game, or individual performances within a game. These prop betting opportunities do not put you at a disadvantage as it is not possible to research the bet beforehand in many cases.
- You can use your knowledge for game or individual-based prop bets to help identify value bets in the market and pick better value bets to back.
Cons
- Many prop wagers can be completely random. That makes them difficult to predict consistently.
- Prop Bets tend to have a higher house edge than standard bets. This gives the bookies a bigger advantage over the punter in the long term.
- The random nature and higher house edge for prop bets means that they are difficult bets to make a profit on consistently.
When used responsibly Prop Bets can be an exciting betting strategy to use alongside other betting strategies, allowing you to back team prop, game prop and player prop bets to enhance your enjoyment of the game.
